Global IoT Connected Machines SaaS Innovator, Elevāt, Raises $9.5 Million

Elevāt announced a D4 Investments-led seed financing round of approximately $9.5 million, including the conversion of convertible Note investments, to grow and expand its sensor-driven, cloud-connected, AI-enabled SaaS platform for machinery of all kinds.

Members of the Keiretsu Forum and Emles Venture Partners are among the organizations joining the seed financing round.

"Elevāt helps equipment manufacturers, owners and users increase control, decrease costs and extend the useful life of their machines," said William Hill, Chief Executive Officer, Elevāt. "This seed round will help us boost sales and marketing to further drive our growth in North America, the European Union, the Middle East and beyond. Along with the success Elevāt has seen in providing IoT cloud-based services for heavy equipment manufacturers, opportunities have arisen with mobile equipment, in plant maintenance, as well as agriculture and the oil and gas industries," says Hill.